WASHINGTON (Reuters) - Near-term deficits under President Barack Obama's latest budget plan would be higher than the most recent estimates by the Congressional Budget Office, but $1.1 trillion lower over the coming decade, CBO said on Friday.

The non-partisan congressional budget referee agency said enactment of Obama's budget proposal would lead to a $669 billion deficit for fiscal 2013, $29 billion higher than CBO estimates based on current tax and spending laws. For the fiscal 2014 year that starts on October 1, the deficit under Obama's budget would be $675 billion, $115 billion higher than the CBO estimate released on Tuesday.